How does the cell change?
By the user typing in the new value--or the results of a formula?
If it's by typing, you could use data|Validation (xl2003 menus) and stop the
invalid entry.
If you change it to a warning, then you could use format|conditional formatting
to show the value in red.
If the value changes via a formula (or by typing), you could use
format|Conditional formatting and a helper cell:
=if(a1<=200,"","Error too large")
Format this cell in big bold red letters to make it noticeable.